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Nabha Power secures approval to convert Rs 5,341-cr debt to equity

When contacted, L&T did not comment on Nabha Power debt conversion or its sale

Power Transmission, Power lines
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Nabha Power, which runs a 1,400-Mw supercritical thermal power plant at Rajpura in Punjab, was the first development project and the first power plant to be owned and operated by L&T

Dev Chatterjee Mumbai
Nabha Power, a subsidiary of L&T Power Development, has received shareholders' approval to convert part of its debt of Rs 5,341 crore into equity in case of a default in future, according to filings with the government authorities.

L&T was earlier planning to sell the Punjab-based unit but as there is a delay in finding a buyer, the company has asked the shareholders for permission to convert part of the debt without giving any timeline to do the same.

Nabha Power made a profit of Rs 302 crore for the fiscal year ended March this year on revenues of Rs

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First Published: Sep 26 2022 | 7:42 PM IST

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